Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me to solve Question 13,14,and 15? SP 12. Pogba sells the mine to Aguero Company at the beginning of 2019 for $2,575,000. When

image text in transcribed

Please help me to solve Question 13,14,and 15?

SP 12. Pogba sells the mine to Aguero Company at the beginning of 2019 for $2,575,000. When recording the sale, Pogba will recognize: los rnam Dapletion 3 3,550,oo c. a. A loss of $52,000 b. A loss of $122,500 A gain of $170,000 d.) A gain of $267,500 e. None of the above wo 1242, soo Use the information below for the following three questions: 2307 Soo Frontier Airlines depreciates engines of its airplanes using straight-line depreciation method and useful life of 10 years, and other parts of airplanes using straight-line depreciation method and useful life of 25 years. There is no salvage value for the plane parts. An engine is valued at 20% of airplane's overall value. On 01/01/2015, Frontier purchased a new airplane for $200 million. On 01/01/2019, it replaced its old engine with a new engine at a cost of $30 million. Old machine is sold for $1 million. 13. What is Frontier's loss on the disposal on 01/01/2019? B Alold) a. $17,000,000 SIL UL 10 SIL UIL 25 b. $23,000,000 Cost $30,00 c. $33,000,000 20% airplan vake d. $39,000,000 Best 40,00 e. None of the above 14. How much is Frontier's depreciation expense for the plane for 2019? meu - 30,00 AM a. $3,000,000 b. $9,400,000 c. $10,400,000 d. $11,200,000 e. None of the above Cr Cash er old 40,00 15. What is Frontier's accumulated depreciation balance for the plant at the end of 2019? a. $1,500,000 b. $32,000,000 c. $35,000,000 d. $51,000,000 e. None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quality Audit In Health Care To Avoid Disallowances Literature Review

Authors: Ana P. Alves De Asevedo

1st Edition

6206120406, 978-6206120407

More Books

Students also viewed these Accounting questions